Q1'21 Results
April 27, 2021
COPYRIGHT © 2021, FIREEYE, INC. ALL RIGHTS RESERVED.
Safe Harbor Statement
This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on management's beliefs and assumptions and on information currently available to management. Forward-looking statements include information concerning: possible or assumed future results of operations, financial metrics and goals; impact of the COVID-19 pandemic; our priorities, plans, initiatives and investments; the threat landscape, industry environment, and customer buying preferences; competitive position; market opportunities; drivers and expectations for growth and business transformation; new, future and enhanced offerings; go to market strategies; and the effects of competition.
Forward-looking statements include all statements that are not historical facts and can be identified by terms such as "anticipates," "believes," "could," "seeks," "estimates," "intends," "may," "plans," "potential," "predicts," "projects," "should," "will," "would" or similar expressions and the negatives of those terms. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements represent our management's beliefs and assumptions only as of the date of this presentation. You should read our filings with the SEC, including the Risk Factors set forth therein, completely and with the understanding that our actual future results may be materially different from what we expect. Except as required by law we assume no obligation to update these forward-looking statements publicly, or to update the reasons why actual results could differ materially from those anticipated in the forward- looking statements, even if new information becomes available in the future.
Any future offering, feature, or related specification that may be referenced in this presentation is for information purposes only and is not a commitment to deliver any offering, technology or enhancement. We reserve the right to modify future product and service plans at any time.
This presentation includes certain non-GAAP financial measures as defined by the SEC rules. As required by Regulation G, we have provided a reconciliation of those measures to the most directly comparable GAAP measures, which is available in the appendix.
Page 2 ©2021 FireEye
Q1'21 Financial Highlights
- Exceeded Q1'21 guidance ranges on revenue, non-GAAP gross margin, non-GAAP operating margin and non-GAAP EPS
- YoY growth rates accelerated for revenue, annualized recurring revenue, and billings
- Continued shift to strategic growth categories
- Platform, cloud subscription and managed services revenue up 26% YoY
- 35% of revenue and 55% of total ARR
- 45% YoY billings growth "as reported", 58% YoY growth based on "constant ACL"
- Strength in validation, threat intelligence and cloud endpoint
- 12th consecutive quarter of record Services revenue
- Improved metrics in Product and Related Subscriptions and Support category
- 4th consecutive quarter of improving billings YoY metrics at "constant" average contract length
- Increasing mix of recurring subscriptions within the category
- Increased full year 2021 guidance ranges for revenue, non-GAAP gross margin, non-GAAP operating margin, and non-GAAP earnings per share
Page 3 ©2021 FireEye
Business Transformation Fuels Financial Results
1
Growing Mix of
Strategic Solutions
ROLLING 4-QUARTERS REVENUE
with 3-year CAGR
$962
$794 +19%
2
Record Annualized Recurring Revenue
ANNUALIZED RECURRING
REVENUE
9% |
3
Increasing Op Income
and Cash Flow
ROLLING 4-QUARTERS
NON-GAAP | CASH FLOW |
OPERATING | FROM |
INCOME1 | OPERATIONS |
$140 | |
+24%
57%
of revenue
YoY | |
Growth | |
55% | |
Q1'21 | 22% |
$643M | |
Platform, Cloud |
$ Millions | $ Millions | |
$102 | ||
-5%
3/31/2018 3/31/2021
Professional services
Platform, cloud sub, and managed svcs Product and related subscription and support
ARR | & MS YoY Growth |
45% | -4% |
Product-related
Subs & Support
Platform, Cloud & MSYoY Growth
Product-related Subs & Support
$44 | ||||||||
$23 | $33 | |||||||
$15 | $19 | |||||||
$0 | ||||||||
3/18 | 3/19 | 3/20 | 3/21 | 3/18 | 3/19 | 3/20 | 3/21 |
1. Non-GAAP, reconciliations to the nearest GAAP financial metric available in the Appendix.
Page 4 ©2021 FireEye
Q1'21 Financial Results
Q1'21 Guidance | Q1'21 | Q1'20 Actual | Y/Y | ||
as of 02/02/21 | Change | ||||
Revenue | $235M | - $238M | $246M | $225M | +10% |
Annualized recurring revenue1 | n/a | $643M | $590M | +9% | |
Non-GAAP gross margin2,3 | 70% | - 71% | 73% | 71% | +2 pts |
Non-GAAP operating margin2,3 | 6.5% | - 7.5% | 9% | -1% | +10 pts |
Non-GAAP net income (loss) per share attributable | $0.05 | - $0.07 | $0.08 | $(0.02) | +$0.10 |
to common stockholders, diluted2 | |||||
Cash flow provided (used) by operating activities | n/a | $21M | $(24)M | +$45M | |
Capital expenditures | ~ $6M | $10M | $12M | $(2)M | |
- Annualized recurring revenue is defined as the annualized run-rate of active term licenses, subscriptions, and support contracts at the end of a reporting period.
- Non-GAAP,reconciliations to the nearest GAAP financial metric available in the Appendix.
- As a % of revenue.
Page 5 ©2021 FireEye
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original document
- Permalink
Disclaimer
FireEye Inc. published this content on 27 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 April 2021 21:18:04 UTC.